PRESS DIGEST- New York Times business news - July 30

July 30 (Reuters) - The following are the top stories on the
New York Times business pages. Reuters has not verified these
stories and does not vouch for their accuracy.

* Barring a last-minute deal, Argentina will default on
billions of dollars of bonds on Wednesday. It would be
Argentina's second default in 13 years. A default has been in
the making since a group of New York hedge funds gained
significant victories in American courts, where they are
demanding that Argentina should pay them in full on government
bonds that defaulted in 2001. (nyti.ms/1tYjH9c)

* The United States and Europe kicked off a joint effort on
Tuesday intended to curb Russia's long-term ability to develop
new oil resources, taking aim at the Kremlin's premier source of
wealth and power in retaliation for its intervention in Ukraine.
The goal was not to inhibit current oil production but to cloud
Russia's energy future. (nyti.ms/1rBMLBL)

* The general counsel of the National Labor Relations Board
ruled that McDonald's Corp could be held jointly liable
for labor and wage violations by its franchise operators. The
ruling comes after the labor board's legal team investigated
myriad complaints that fast-food workers brought in the last 20
months, accusing McDonald's and its franchisees of unfair labor
practices. (nyti.ms/1nEK6Z1)

* After New York proposed the virtual currency regulations
two weeks ago, bitcoin enthusiasts have had a mixed reaction on
whether the new rules will help legitimize the virtual currency
or whether they will thwart innovation and threaten the very
freedom that bitcoin was meant to promote. (nyti.ms/1pDxAWj)
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